Donegal Group (NASDAQ:DGICA) Major Shareholder Mutual Insurance Co Donegal Buys 9,682 Shares

Donegal Group, Inc. (NASDAQ:DGICA) major shareholder Mutual Insurance Co Donegal acquired 9,682 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $17.62 per share, with a total value of $170,596.84. Following the acquisition, the insider owned 14,136,691 shares in the company, valued at approximately $249,088,495.42. This trade represents a 0.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mutual Insurance Co Donegal also recently made the following trade(s):

• On Thursday, June 11th, Mutual Insurance Co Donegal bought 9,900 shares of Donegal Group stock. The shares were bought at an average cost of $17.56 per share, for a total transaction of $173,844.00.
• On Wednesday, June 3rd, Mutual Insurance Co Donegal purchased 10,000 shares of Donegal Group stock. The shares were bought at an average price of $16.62 per share, with a total value of $166,200.00.
• On Monday, June 1st, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The stock was bought at an average cost of $16.76 per share, with a total value of $142,460.00.
• On Thursday, May 28th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was bought at an average price of $16.98 per share, for a total transaction of $144,330.00.
• On Tuesday, May 26th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 22nd, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The shares were purchased at an average cost of $17.40 per share, with a total value of $147,900.00.
• On Wednesday, May 20th, Mutual Insurance Co Donegal bought 8,500 shares of Donegal Group stock. The stock was purchased at an average price of $17.43 per share, with a total value of $148,155.00.
• On Tuesday, May 19th, Mutual Insurance Co Donegal purchased 8,328 shares of Donegal Group stock. The shares were purchased at an average cost of $17.48 per share, for a total transaction of $145,573.44.
• On Monday, May 18th, Mutual Insurance Co Donegal purchased 8,500 shares of Donegal Group stock. The shares were purchased at an average price of $17.33 per share, for a total transaction of $147,305.00.
• On Friday, May 15th, Mutual Insurance Co Donegal acquired 8,500 shares of Donegal Group stock. The stock was purchased at an average cost of $17.16 per share, with a total value of $145,860.00.

Donegal Group Stock Performance

Shares of Donegal Group stock opened at $17.61 on Monday. The firm has a 50-day simple moving average of $17.26 and a two-hundred day simple moving average of $18.25. The company has a market cap of $652.45 million, a P/E ratio of 9.84 and a beta of 0.01. Donegal Group, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $21.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39.

Donegal Group (NASDAQ:DGICA) last posted its earnings results on Thursday, April 30th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). Donegal Group had a return on equity of 10.31% and a net margin of 6.77%.The firm had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $247.83 million. As a group, equities analysts predict that Donegal Group, Inc. will post 1.75 earnings per share for the current fiscal year.

Donegal Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.1925 per share. This is an increase from Donegal Group’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, May 1st. Donegal Group’s dividend payout ratio (DPR) is currently 43.02%.

Wall Street Analysts Forecast Growth

DGICA has been the subject of a number of recent analyst reports. Weiss Ratings cut Donegal Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods decreased their target price on Donegal Group from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Donegal Group presently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DGICA. Smartleaf Asset Management LLC lifted its stake in Donegal Group by 576.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,747 shares of the insurance provider’s stock valued at $55,000 after buying an additional 2,341 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Donegal Group by 422.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,975 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Donegal Group by 1,377.6% during the fourth quarter. IFP Advisors Inc now owns 3,768 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 3,513 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Donegal Group by 31.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 896 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Donegal Group by 443.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 4,022 shares in the last quarter. Institutional investors and hedge funds own 27.96% of the company’s stock.

About Donegal Group

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.